Day: September 28, 2018

September 28
2018

Chinese Yuan Gains Amid Bearish Economic Forecasts

The Chinese yuan is gaining at the end of the trading week despite several bearish forecasts pertaining to the short-term outlook of the national economy and the currency. This comes one day after the yuan extended its losing streak to six months, the longest in 26 years, after shedding 4% against the greenback in the third quarter. On Sunday, the Caixin Purchasing Mangers’ Index (PMI) for the nation’s manufacturing sector will be released and the market is anticipating it […]

Read more
September 28
2018

EUR/USD Recovers from Drop Caused by Italian Budget

EUR/USD dropped intraday but is recovering right now, though it still trades below the opening level. The major topic for the Forex market remained the Italian budget. Italy’s government approved the budget that will run with a deficit of 2.4% of GDP, drawing ire of the European Union. The markets’ reaction to the decision was also negative. Both personal income and spending rose 0.3% in August. The figure for income trailed market expectations […]

Read more